Compare Today’s Refinance Rates

On , the benchmark 30-year fixed refinance rate is 3.320% with an APR of 3.450%. The average 15-year fixed refinance rate is 2.560% with an APR of 2.750%. The 5/1 adjustable-rate refinance (ARM) rate is 3.040% with an APR of 4.030%, according to Bankrate’s latest survey of the nation’s largest refinance lenders.

Compare today's refinance rates and get quotes tailored to you below.

About our Mortgage Rate Tables: The above mortgage loan information is provided to, or obtained by, Bankrate. Some lenders provide their mortgage loan terms to Bankrate for advertising purposes and Bankrate receives compensation from those advertisers (our "Advertisers"). Other lenders' terms are gathered by Bankrate through its own research of available mortgage loan terms and that information is displayed in our rate table for applicable criteria. In the above table, an Advertiser listing can be identified and distinguished from other listings because it includes a "Next" button that can be used to click-through to the Advertiser's own website or a phone number for the Advertiser.

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Loan Terms for Customers: Advertisers may have different loan terms on their own website from those advertised through To receive the rate, you must identify yourself to the Advertiser as a customer. This will typically be done by phone so you should look for the Advertisers phone number when you click-through to their website. In addition, credit unions may require membership.

Loans Above $548,250 May Have Different Loan Terms: If you are seeking a loan for more than $548,250, lenders in certain locations may be able to provide terms that are different from those shown in the table above. You should confirm your terms with the lender for your requested loan amount.

Taxes and Insurance Excluded from Loan Terms: The loan terms (APR and Payment examples) shown above do not include amounts for taxes or insurance premiums. Your monthly payment amount will be greater if taxes and insurance premiums are included.

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How to use our refinance rate table

This table will show you estimated mortgage refinance rates from different lenders, tailored to you. Fill out the fields above as accurately as possible so we can get a sense of where you live, what you’re looking to do and your financial situation. You will get quotes based on that information, and you’ll be on your way to getting a new mortgage. This is an estimate; your actual rate will depend on a number of factors.

How mortgage refinance rates work

Mortgage interest is simply how much you pay the bank to borrow its money. If you’re taking out a $100,000 mortgage, you’ll pay back more than $100,000 over time for the privilege. Shorter-term loans have lower interest rates than longer-term ones. With that lower interest rate and more-rapid payback, a 15-year mortgage, for example, will be a lot less expensive overall than a 30-year one. The flip side is, shorter-term loans mean higher monthly payments, so even though they save you money overall, they can squeeze your monthly budget. Thanks to the ongoing trend of low interest rates, shorter-term loans have become more affordable for many borrowers, and have become especially popular with homeowners looking to refinance.

How to find the best refinance rates

Shopping around for quotes from multiple lenders is key for every mortgage applicant. When you shop, consider not just the interest rate you’re being quoted, but also all the other terms of the loan. Be sure to compare APRs, which include many additional costs of the mortgage not shown in the interest rate. Some institutions may have lower closing costs and fees than others, or your current bank or credit union may extend you a special offer. Don’t be afraid to walk away from your current lender when you refinance. If you can find a better deal elsewhere, go for it. Look at quotes from online and traditional banks. Consider using a mortgage broker, who will be able to provide rates from wholesale lenders.

What are refinance rates today?

On Monday, March 08, 2021, the benchmark 30-year fixed refinance rate is 3.320% with an APR of 3.450%. The average 15-year fixed refinance rate is 2.560% with an APR of 2.750%. The 5/1 adjustable-rate refinance (ARM) rate is 3.040% with an APR of 4.030%, according to Bankrate’s latest survey of the nation’s largest refinance lenders.

Current mortgage refinance rates

Mortgage rates change all the time, driven by factors like the economy, Treasury bond rates and demand. Lenders nationwide provide weekday mortgage rates to our comprehensive national survey of the most current rates available. The interest rate table below is updated daily. Use these as a guide to what’s available, but keep in mind your rate may vary depending on your qualifications and the lender you choose.

Product Interest Rate APR
30-Year Fixed Rate 3.320% 3.450%
20-Year Fixed Rate 3.160% 3.340%
15-Year Fixed Rate 2.560% 2.750%
10/1 ARM Rate 3.240% 3.970%
7/1 ARM Rate 3.070% 3.890%
5/1 ARM Rate 3.040% 4.030%
30-Year VA Rate 2.930% 3.170%
30-Year FHA Rate 2.890% 3.730%
30-Year Fixed Jumbo Rate 3.360% 3.410%
15-Year Fixed Jumbo Rate 2.570% 2.620%
7/1 ARM Jumbo Rate 3.140% 3.860%
5/1 ARM Jumbo Rate 2.990% 3.950%

at 6:30 AM

Why trust Bankrate?

Bankrate has been the authority in personal finance since it was founded in 1976 as the “Bank Rate Monitor,” a print publication for the banking industry. Bankrate has been surveying and collecting information on mortgage and refinance rates from the nation’s largest lenders for more than 30 years. Top publications such as The New York Times, Wall Street Journal, CNBC and others depend on Bankrate as a trusted source of financial information, so you know you’re getting information you can trust.

How Bankrate's mortgage and refinance rates are calculated

Here you can see the latest marketplace average rates for a wide variety of refinance loans. The interest rate table above is updated daily to give you the most current refinance rates when choosing a home loan. APRs and rates are based on no existing relationship or automatic payments. For these averages, the customer profile includes a 740 FICO score and a single-family residence. To learn more, see understanding Bankrate rate averages.


What the new presidency means for the housing market


The housing market is poised to become more accessible to more buyers under the Biden administration. His policy proposals include additional COVID relief for homeowners and renters, and funding for new programs meant to help lower-income Americans and first-time homebuyers to purchase homes. As the pandemic is brought under control by vaccines, it’s likely the economy will improve. Eventually, the current historically-low mortgage rates will rise, but as people become more financially secure, that may not have as big an effect on homebuying.

What you can do to take advantage of these forecasted rates

Now is the time to buy if you can afford it. With rates at all-time lows, it’s likely never going to be cheaper to get a mortgage. But don’t worry too much if your financial ducks aren’t in a row yet. You can still use this time to boost your savings and improve your credit score, even if you don’t have enough for a down payment. You should also consider looking at programs like FHA’s mortgage offerings, which can allow you to secure financing with as little as 3 percent down. Now is a great time to consider refinancing, too, because these ultra-low mortgage rates aren’t just for new homebuyers. Current homeowners can refinance their mortgage to get a new, lower interest rate, which usually means paying less each month.

A new administration often means changes to housing policy, but the market always finds its equilibrium eventually. At least in the near future, low mortgage rates are likely to keep the real estate industry busy. Normally, the winter is a slow time for homebuying, but the pandemic has fueled a boom that has kept Realtors busy, even through the colder months. It’s also a good time for current homeowners to refinance, because lowering your mortgage’s interest rate can save you money every month and over the life of the loan.

The Federal Reserve has promised to keep interest rates low, which should allow mortgage rates to stay down for a while, too. Eventually, however, rates will rise, and you don’t want to miss out on the opportunity for savings. As the economy improves when the pandemic subsides, mortgage rates are almost certain to rise. How soon they rise will depend largely on how quickly the economy returns to its pre-pandemic normal, but most experts expect that will take at least a few years. In the meantime, whether you’re looking to refinance or buy a new home, now is a great time to secure a mortgage.

What to you need to know about refinancing your mortgage

By Jeff Ostrowski

  • What is a mortgage refinance?

  • Are mortgage rates different for refinancing?

  • Where are rates headed?

  • Types of refinancing

  • Average cost of refinancing your mortgage

  • Is now a good time to refinance?

  • Is it worth it to refinance?

  • At what percent decrease should I refinance my home?

  • What you will need to refinance

  • How to refinance in 5 steps

  • How much equity do I need to refinance?


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